WEX Q3 revenue record $616M (+28% YoY), adjusted EPS $3.51 (+43%); board boosts buyback to $650M

WEX Inc.

2022-Q3 EPS reported $2.51 revenue$1,731,901,000

Total revenue of $616.1M, up 28% YoY; total volume $57.5B (+41% YoY).
GAAP net loss of $1.00 per diluted share vs gain of $1.07; adjusted net income of $3.51 per diluted share (+43%).
FY2022 guidance raised: revenue $2.302-2.312B, adjusted EPS $13.24-13.34.
Board increased share repurchase authorization from $150M to $650M, shortened to Dec 31, 2025; $575M remaining.
Q3 repurchased 434,582 shares for ~$69M; YTD repurchases total $225M.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

WEX Inc. reported third quarter 2022 results: revenue $616.1 million, net income net loss of $44.1 million, or $1.00 per diluted share. Guidance raised.

Period: third quarter 2022
Revenue: $616.1 million
Net income: net loss of $44.1 million, or $1.00 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

WEX Inc. Reports Third Quarter 2022 Financial Results 3Q revenue increased 28% year-over-year to a record $616 million 3Q GAAP net loss was $1.00 per diluted share; 3Q adjusted net income increased 43% year-over-year to $3.51 per diluted share

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Source: SEC EDGAR

accession 0001157523-22-001407

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